Shares of Innospec Inc. (NASDAQ:IOSP) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $76.00.

Several analysts have recently commented on IOSP shares. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a report on Tuesday, September 12th. ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. KeyCorp reissued an “overweight” rating on shares of Innospec in a report on Thursday, November 9th. Monness Crespi & Hardt cut Innospec from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Johnson Rice raised Innospec from a “hold” rating to an “accumulate” rating in a report on Tuesday, November 14th.

In related news, insider Philip Curran sold 1,352 shares of Innospec stock in a transaction on Friday, November 24th. The stock was sold at an average price of $71.05, for a total transaction of $96,059.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Watt sold 440 shares of Innospec stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $70.17, for a total value of $30,874.80. Following the transaction, the vice president now directly owns 30,730 shares of the company’s stock, valued at $2,156,324.10. The disclosure for this sale can be found here. Insiders sold a total of 24,366 shares of company stock valued at $1,743,891 over the last three months. Insiders own 2.02% of the company’s stock.

A number of hedge funds have recently modified their holdings of IOSP. SG Americas Securities LLC acquired a new position in Innospec during the second quarter worth $106,000. Victory Capital Management Inc. raised its holdings in Innospec by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,720 shares of the specialty chemicals company’s stock worth $178,000 after purchasing an additional 409 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in Innospec by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock worth $209,000 after purchasing an additional 41 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Innospec by 1.8% in the second quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 57 shares during the last quarter. Finally, Suntrust Banks Inc. raised its holdings in shares of Innospec by 4.0% in the second quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock worth $261,000 after acquiring an additional 155 shares during the last quarter. 91.18% of the stock is owned by hedge funds and other institutional investors.

Innospec (NASDAQ IOSP) opened at $71.20 on Wednesday. Innospec has a 12 month low of $54.10 and a 12 month high of $74.75. The firm has a market capitalization of $1,704.11, a P/E ratio of 19.72 and a beta of 1.21. The company has a quick ratio of 1.35, a current ratio of 2.24 and a debt-to-equity ratio of 0.30.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The company’s revenue was up 61.8% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. equities research analysts predict that Innospec will post 4.3 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.dailypolitical.com/2018/01/03/innospec-inc-iosp-receives-average-recommendation-of-buy-from-brokerages.html.

About Innospec

Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.

Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.